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Listing of Loan Notes on Cayman Stock Exchange

21st Aug 2014 07:00

RNS Number : 6575P
Cyprotex PLC
21 August 2014
 



 

 

Cyprotex PLC

("Cyprotex" or "the Company")

Listing of Loan Notes on Cayman Islands Stock Exchange

 

Cyprotex PLC (AIM: CRX), a specialist ADME-Tox Contract Research Organisation (CRO), today announces that it has written to the holders of its £3 million fixed rate redeemable loan notes (the "Redeemable Loan Notes") and £4 million fixed rate convertible loan notes (the "Convertible Loan Notes"), issued on 27 September 2013, (together the "Loan Notes") to seek their consent to the Loan Notes being admitted to the Official List of the Cayman Islands Stock Exchange ("CSX") (the "Listing"). The Board believes that a listing of the Loan Notes makes them more widely available and attractive to investors as well as simplifying the ongoing administration of the Loan Notes by the Company.

 

On the assumption that the holders of 75% in nominal value of each of the Redeemable Notes and the Convertible Notes vote in favour of the Listing, an application for the Listing will be made to CSX and it is expected that admission of the Loan Notes will become effective on or around 29 August 2014. Certain of the loan note holders, representing in aggregate 89.89 per cent of the Convertible Notes and 100 per cent of the Redeemable Notes, have irrevocably undertaken to vote in favour of the relevant resolutions. In addition, certain of the directors of the Company who hold Convertible Notes, representing 0.98% of the Convertible Notes, have irrevocably undertaken to vote in favour of the relevant resolution.

 

No other changes are being made to the terms of the Loan Notes.

 

For further information:

 

Cyprotex PLC

Tel : +44 (0)1625 505 100

Dr Anthony Baxter, Chief Executive Officer

John Dootson, Chief Financial Officer

Mark Warburton, Chief Operating Officer and Legal Counsel

[email protected]

www.cyprotex.com

N + 1 Singer (NOMAD and broker to Cyprotex)

Tel : +44 (0)20 7496 3000

Shaun Dobson

[email protected]

Jen Boorer

[email protected]

www.nplus1singer.com

FTI Consulting

Tel : +44 (0)20 3727 1000

Simon Conway

Mo Noonan

[email protected]

www.fticonsulting.com

 

About Cyprotex PLC

 

Cyprotex is listed on the AIM market of the London Stock Exchange (CRX). It has sites in Macclesfield, near Manchester in the UK, Watertown, MA and Kalamazoo, MI in the US. The Company was established in 1999 and works with more than 900 partners within the pharmaceutical and biotech industry, cosmetics and personal care industry and the chemical industry. Cyprotex acquired Apredica and the assets of Cellumen Inc. in August 2010 and the combined business provides support for a wide range of experimental and computational ADME-Tox and PK services, extending from early drug discovery through to IND submission. The acquisition of the assets and business of CeeTox in January 2014 has enabled Cyprotex to expand its range of services to target the personal care, cosmetics and chemical industries. The Company's core capabilities include high quality in vitro ADME screening services, mechanistic toxicology and high content toxicology screening services, including our proprietary CellCiphr® toxicity prediction technology, predictive modelling using PBPK and QSAR techniques, including Cloe® PK for in vivo PK prediction, and a range of skin, ocular and endocrine disruption services. For more information, see www.cyprotex.com

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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